Western Gas Partners LP Stock Forecast
Stronger technical forecast for Western Gas Partners LP stock price after Friday trading.
(Updated on May 17, 2024)
The Western Gas Partners LP stock price gained 1.44% on the last trading day (Friday, 17th May 2024), rising from $37.50 to $38.04. During the last trading day the stock fluctuated 2.61% from a day low at $37.15 to a day high of $38.12. The price has risen in 6 of the last 10 days and is up by 7.06% over the past 2 weeks. Volume fell on the last day by -96 thousand shares and in total, 800 thousand shares were bought and sold for approximately $30.45 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $37.88, a level that may pose a second chance to hit a runner. According to fan-theory $40.90 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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WES Signals & Forecast
Mostly positive signals in the chart today. The Western Gas Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $37.32 and $35.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 11.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Thursday, June 29, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, June 29, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Western Gas Partners LP stock
On the downside, the stock finds support just below today's level from accumulated volume at $33.78 and $33.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Western Gas Partners LP finds support just below today's level at $33.78. If this is broken, then the next support from accumulated volume will be at $33.60 and $30.81.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.97 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.61%.
Our recommended stop-loss: $36.67 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (WES) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Western Gas Partners LP to open at $37.77, and during the day (based on 14 day Average True Range), to move between $37.20 and $38.88, which gives a possible trading interval of +/-$0.84 (+/-2.21%) up or down from last closing price. If Western Gas Partners LP takes out the full calculated possible swing range there will be an estimated 4.42% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $33.78, some $4.26 (11.20%) from the current price of $38.04, our system finds the risk reward attractive.
Is Western Gas Partners LP stock A Buy?
Western Gas Partners LP holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.750 Strong Buy Candidate Upgraded
Predicted Opening Price for Western Gas Partners LP of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$37.77 ( 0.710%) | $38.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WES
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.74 | 1.84 % | |
R2 | 38.37 | 0.87 % | ||
R1 | 38.14 | 0.264 % | ||
Current price: | 38.04 | |||
Support | S1 | 37.40 | -1.68 % | |
S2 | 37.17 | -2.29 % | ||
S3 | 36.80 | -3.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 38.04 | |||
Support | S1 | 33.78 | -11.20% | |
S2 | 33.60 | -11.67% | ||
S3 | 30.81 | -19.01% |
WES Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 18, 2024 | Apr 30, 2024 | May 15, 2024 | $0.88 | 2.30% |
2 | Jan 22, 2024 | Jan 31, 2024 | Feb 13, 2024 | $0.580 | 2.08% |
3 | Oct 19, 2023 | Oct 31, 2023 | Nov 13, 2023 | $0.575 | 2.09% |
4 | Jul 21, 2023 | Jul 28, 2023 | Aug 14, 2023 | $0.563 | 2.04% |
5 | Apr 20, 2023 | Apr 28, 2023 | Aug 14, 2023 | $0.86 | 3.11% |
FAQ
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